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Thread: Starting 2014 with FI

  1. #21
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    I just read the book and am excited to get started on the program. I'm just waiting for my husband to finish reading it. Any advice for getting him on board? As it is, I handle all the money and I think that has a lot to do with his feeling that we can spend. I think getting him involved in the FI program would be helpful, but I'm afraid he won't be interested. Has anyone here had a less than interested spouse? If so, how did you handle that? Thanks!

  2. #22
    Senior Member SteveinMN's Avatar
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    Quote Originally Posted by k99km01 View Post
    Has anyone here had a less than interested spouse? If so, how did you handle that? Thanks!
    First, k99km01, welcome to SLF!

    I came to simple living sooner than my wife did. Neither one of us really ever climbed onto the hamster wheel of consumerism. But we made good salaries and were not opposed to spending it on things that -- it turns out -- we haven't missed much lately.

    What works for each couple/family will be different. What worked for us was two things:

    - An awareness of what we were spending. It's one thing to believe "we're spending too much on dining out". It's another to know that, over the last six months, you spent an average of $80 a week on dining out -- the equivalent of a car payment every month. Putting real numbers on something takes it out of the realm of perception and provides solid data on which you can debate whether the spending is worth it. Track what you spend.

    - Playing to DW's interests. She has long said she wants to retire in 2019. Work has been more challenging lately and now she's musing about retiring sooner. Well, there are two ways that can happen: either we earn more money or we don't spend as much. Going FI (or as close as we can get to it) gives DW a choice in when she retires. There is a direct relationship between how much we can save and/or cut what we spend and how much sooner than 2019 DW can consider either a less-taxing job or retirement. That puts DW's skin in the game, as they say, and makes it easier for her to decide whether buying that blouse or bringing in take-out is worth staying in her current job that much longer.
    Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome. - Booker T. Washington

  3. #23
    Senior Member Teacher Terry's Avatar
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    I definitely agree with Steve because my hubby was much less interested then me. However, he was very interested in only working P.T. Also we each get a certain amount of money to spend without being accountable to anyone which I think helps. The Simple Dollar site recommends this approach. Good luck!

  4. #24
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    Quote Originally Posted by SteveinMN View Post
    First, k99km01, welcome to SLF!

    I came to simple living sooner than my wife did. Neither one of us really ever climbed onto the hamster wheel of consumerism. But we made good salaries and were not opposed to spending it on things that -- it turns out -- we haven't missed much lately.

    What works for each couple/family will be different. What worked for us was two things:

    - An awareness of what we were spending. It's one thing to believe "we're spending too much on dining out". It's another to know that, over the last six months, you spent an average of $80 a week on dining out -- the equivalent of a car payment every month. Putting real numbers on something takes it out of the realm of perception and provides solid data on which you can debate whether the spending is worth it. Track what you spend.

    - Playing to DW's interests. She has long said she wants to retire in 2019. Work has been more challenging lately and now she's musing about retiring sooner. Well, there are two ways that can happen: either we earn more money or we don't spend as much. Going FI (or as close as we can get to it) gives DW a choice in when she retires. There is a direct relationship between how much we can save and/or cut what we spend and how much sooner than 2019 DW can consider either a less-taxing job or retirement. That puts DW's skin in the game, as they say, and makes it easier for her to decide whether buying that blouse or bringing in take-out is worth staying in her current job that much longer.
    Thanks so much for your response, Steve! You've offered really helpful suggestions!

    I noticed that there are a couple (at least) people from the Twin Cities posting in this thread. We live in the Twin Cities, too! We're in downtown Minneapolis. Are there FI classes or groups in the area that you know of? I know that it's always been easier for me to make a change or stick to a project when I'm embedded in a community of likeminded people.

  5. #25
    Member tetrimbath's Avatar
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    If there are any classes or groups, or if you decide to start one, tell me and I can spread the word through New Road Map's web site, and facebook pages, etc.

  6. #26
    Senior Member SteveinMN's Avatar
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    k99km01, I'm not aware of any FI classes or groups personally. There is, as you noticed, a surprisingly-large Twin Cities contingent here on SLF, however, so maybe one of the others can chime in with what they know.

    I did a quick Web search for "financial independence" course minneapolis ; the results were largely financial advisors, but I did find a 2008 news release about a workshop at the U of M. Here's contact info for the people associated with the course; maybe they could let you know if the class is still offered:

    Rachel Wright, College of Continuing Education, (612) 624-7770, wrigh474@umn.edu
    Luisa Badaracco, University News Service, (612) 624-1690, luisab@umn.edu


    Hope that helps...
    Success is to be measured not so much by the position that one has reached in life as by the obstacles which he has overcome. - Booker T. Washington

  7. #27
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    Quote Originally Posted by Lainey View Post
    I'm posting a link to a young couple's experience, even though they didn't say they're officially following the YMOYL program, but they sure did all of the frugal steps:
    http://finance.yahoo.com/news/one-fa...150646318.html

    Sad to think though that it wouldn't have been necessary but for her six-figure student loan debt - yikes.
    Basically this is how we paid our mortgage off almost thirty years ago. Even though times have changed these strategies still work. It's a pity the story wasn't a little more detailed.

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